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NFI completes C$125M offering of subscription receipts

Date Closed

June 6, 2023

Lead Office



125.00 Million CAD

On June 6, 2023, NFI Group Inc. completed the issue and sale of 15,102,950 subscription receipts, with a price of C$8.25 per Subscription Receipt, for gross proceeds of C$125 million. The offering was made available to the public through a syndicate of underwriters co-led by BMO Capital Markets, CIBC Capital Markets, National Bank Financial and Scotiabank that included ATB Capital Markets Inc. and Merrill Lynch Canada Inc.

NFI Group Inc. is a Canadian bus manufacturer, headquartered in Winnipeg, Manitoba.

McCarthy Tétrault advised the underwriting syndicate with a team led by Robert Richardson which included Andrew Parker, Rami Chalabi, Jeremy Pleasant, Ivor Selimovic (Business), and Kabir Jamal (Tax).